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What is Oracle EPM?

What is Oracle Enterprise Performance Management (EPM)?

oracle epm

Business continues to change at an ever more rapid pace. Volatile market dynamics have an immediate impact on a global scale. Organizations today are faced with higher degrees of uncertainty, forcing them to reinvent management practices and to develop superior capabilities to manage the current performance and long-term sustainability of their business.

Corporate Boards and regulators are placing greater demands for transparency and accountability on these organizations. These new demands are piled on top of the traditional risks of globalization, deregulation, technology advancements, and commoditization. Data is also becoming increasingly more complex, less insightful, and more difficult to analyze. As a result, executives are facing more pressure to ensure that information about their operations is correct and consistent. They must have confidence in their processes and in the results that they are reporting.

Oracle Enterprise Performance Management (Oracle EPM) is a management discipline that focuses on supporting integrated management processes on a strategic, financial, and operational level enabling organizations to run their business more effectively.

Oracle EPM Platform includes:

  • Planning - drive connected plans from scenario modeling and long-range planning to budgeting and line of business planning, which are built on best practices and advanced technologies.
  • Profitability and Cost Management - identify your most profitable products or lines of business and, inversely, your biggest costs, to make more informed decisions about where to take the business.
  • Financial Close and Consolidation - adapt to changing business and compliance requirements while delivering faster, more accurate, and transparent reporting.
  • Account Reconciliation - improve the efficiency and accuracy of your financial statements while addressing security and risk typically associated with the process.
  • Tax Reporting - align tax with corporate financial reporting for better visibility and compliance.
  • Narrative Reporting - get ahead of your internal and external reporting requirements with narrative reporting for collaboratively authoring and publishing financial, management, and regulatory report packages.
  • Enterprise Data Management - helps you manage business change and includes enterprise data governance, change data visualization, and hierarchy management.

What if you could have timely, accurate, and relevant intelligence with which to plan and control your entire organization? What if you could have the most important metrics to measure the performance of the organization at your fingertips? What if all of your management systems could work together to provide what you need when you need it?

The benefits of implementing Oracle EPM:

  • Stakeholder alignment
  • Governance and compliance
  • Better preparation for changes
  • Superior business management
  • Connected business processes
  • Accountability and visibility
  • Timely actionable information
  • Decreased total cost of ownership
  • Increased return on investment
  • Reduced risk
  • Strategic, competitive advantage
  • Standardized management processes
  • Enhanced efficiency and adaptability

As always there are many challenges to implementing, optimizing, and realizing the full value of an Oracle EPM system implementation. Many factors may lead to challenges for companies. How will my business process change? What changes can be made that better leverage the technology? How do we integrate the data? Who should have access to what? How can we optimize our system for performance and ease of maintenance?

MindStream Analytics has years of experience dealing with these questions and working with companies and their EPM needs. Enterprise Performance Management (EPM) can create a competitive advantage for the companies that adopt it by enabling them to anticipate and respond to a changing business climate faster than their peers. MindStream can help you achieve your advantage.

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